Zain says that there are no developments in its tower sale plan
Zain said yesterday that there were no fresh developments in its plans to sell mobile transmitter towers in Saudi Arabia and its domestic market Kuwait. In a phone call with analysts last November, chief executive Scott Gegenheimer said: "We're currently running a process for the sale of our towers in both Saudi and Kuwait markets." Zain Saudi could raise around USD500 million from selling its towers based on the lower end of the estimated value per tower of USD60,000 as per consultants AT Kearney. (Reuters)
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